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Yesterday, Ripple announced that it has added 13 new financial institutions to the RippleNet user list. One of these institutions, the Flash FX payment transfer platform, has also started using the XRP token.
In June of last year, Brad Garlinghouse, CEO of Ripple, said that more than a dozen banks hopefully can use xRapid and, therefore, also XRP by 2019. Garlinghouse said:
"By the end of this year [2018], the big banks will use xRapid as a liquidity tool. By the end of next year [2019]I certainly hope that we will see … in the order of magnitude … of dozens. But we must also continue to grow that ecosystem … to grow liquidity ".
It seems that this promise is immediately underway at the beginning of this year. Flash FX, a payment transfer platform from Australia, has launched its latest cross-border payment solution and uses XRP. With the use of xRapid and XRP, Flash FX aims to improve the speed and quality of services offered in the country.
Nicolas Steiger, CEO of FlashFX, said:
"We are thrilled to be part of the evolution in international payment processing – it is time for consumers and businesses to see a significant change in the way money is sent across borders. Alternative for Australians who want to send a faster and cheaper payment than the currently available banks. "
According to FlashFX, transmitting money and resources from one country to another should not be a complicated task, but rather as simple as sending a text message. With the use of xRapid and the XRP token, FlashFX aims to achieve this goal.
Yesterday, Brad Garlinghouse noted that Ripple's critics repeatedly argued in 2018 that XRP would not be used by banks in the near future. According to Garlinghouse, however, Ripple is seeing an increase in demand for RippleNet, particularly for international and cross-border payments.
Brad Garlinghouse said:
"Last year some key critics said that financial institutions would never use digital assets in their payment streams – as I said then, if they offer their customers better experience at a lower cost, they will – and they are, "
Unfortunately for XRP owners, the price of XRP did not move after good news. At the time of writing, XRP is trading at $ 0.36, up 0.72% in the last 24 hours, according to CoinMarketCap data.
